The Real Deal Miami

Advice for homeowners under water

August 18, 2008 12:12PM

Certified financial planner Meg Green tackles a Miami resident’s question of whether bankruptcy is the right course of action for a newlywed couple that owes more on their house than it’s now worth. While it’s a difficult situation and the pressures are very real, bankruptcy is usually an option of last resort. She urges ample patience with the depressed regional real estate market, and suggests negotiating with the lender to see if new financing can be arranged.